"Putin's Innovative Solution: Russians Can Now 'Swap' Frozen Assets"

Russian President Vladimir Putin has signed a decree allowing Russian investors to "swap" their frozen assets abroad with the frozen assets of foreign companies in Russia. Western countries imposed sanctions on Russia following its invasion of Ukraine, blocking Russian banks from making international payments and freezing Russian assets abroad. The decree aims to address the issue of over $16 billion worth of foreign investments belonging to Russian citizens being stuck abroad. However, there is uncertainty regarding whether foreign clearing houses will cooperate with the exchange of shares. The Kremlin's actions, including seizing the subsidiaries of foreign companies, have made it difficult for foreign companies to operate in Russia.